Crypto Industry Faces Criticism Over Queen Elizabeth II Altcoins and Ethereum Merge Fears

The crypto industry is facing backlash for creating and releasing altcoins in the name of Queen Elizabeth II after her death. The move has been criticized as insensitive and an attempt to capitalize on the royal family's recent loss.

Ethereum's upcoming Merge, which will switch from Proof-of-Work to Proof-of-Stake, may lead to selloffs, but experts say it will be a gradual process. David Hoffman, co-founder of Bankless, stated that even if everyone were to try and unstake at once, it would take two to three months for their funds to be returned.

In other news, cryptocurrency stolen by a North Korean hacking group has been recovered. Chainalysis used advanced tracing techniques to track down the stolen funds, which totaled over $30 million. This is seen as an encouraging sign that law enforcement and industry players are working together to combat crypto-related crimes.